Selbyville, Aug. 28, 2019 (GLOBE NEWSWIRE) --
Global Market Insights, Inc., announces a report on ‘Next generation sequencing market 2019-2025 Trends & Forecast’. The study covers the product, application, type, technology, end-user, and regional landscapes. Worldwide NGS market is expected to cross USD 15 billion by 2025, on account of increasing use of NGS technology by pharmaceutical and biopharmaceutical companies in advanced economies.
Growing research activities in the clinical sector for developing novel treatments will drive next generation sequencing market trends. Features like high scalability, throughput and speed have enabled next-generation sequencing (NGS) to revolutionize the clinical research industry. The technology allows researchers to rapidly commence operations like sequence whole genomics, discover new RNA variants, sequence cancer samples and analyze epigenetic factors. Moreover, demand for more in-depth information offering compared to traditional DNA sequencing technologies is driving NGS demand.
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Rising cost for developing novel medicines and growing need for technologies that prevent loss in R&D investment is also likely to foster NGS industry outlook. According to studies, around USD 2.6 billion is spent in developing new therapeutics. Growing investment made by industry players to expand the business scope will further boost market size.
In 2019, Eastern Pathology Alliance (EPA) announced plans to provide Hepatitis C (Hep C) genotyping testing to the National Health Services by investment in next generation sequencing assays. Meanwhile, a molecular diagnostic solutions provider announced recently that its arm has opened a specialized service laboratory that will offer next generation sequencing (NGS) based AMR testing services with a focus on infection control, AMR epidemiology and surveillance, clinical research and pharmaceutical anti-infectives R&D.
Based on type, the whole-genome sequencing (WGS) segment is expected to register substantial gains over the forecast period. In 2018, the WGS NGS market size was valued at around USD 1 billion.
Factors like identifying inherited disorders, characterizing the mutations that drive cancer progression, and tracking disease outbreaks are expected to further segment reach in the upcoming years. Rapidly dropping prices for sequencing and the ability to produce large volumes of data are also likely to make whole genome sequencing an essential tool for genomics research.
The ability to analyze entire genome and delivers large volumes of data in a short interval of time will support WGS use. Demand for personalized medicines as well as expansion of clinical services worldwide will boost segment growth. In 2019, Brigham and Women's Hospital announced opening an affiliated clinical service, Preventive Genomics Clinic, to offer comprehensive DNA sequencing, explanation, and reporting of disease-linked genes in adults and children.
Browse key industry insights spread across 218 pages with 152 market data tables & 10 figures & charts from the report, “Next Generation Sequencing Market Forecasts 2019 - 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/next-generation-sequencing-market
Pharmaceutical and biotechnology companies are expected to offer considerable growth revenues to the next generation sequencing market owing to extensive use of NGS products and consumables in the manufacturing of biological solutions and drugs. Whole genome sequencing and targeted sequencing are mostly used in these sectors mainly to attain precise insights on the sequenced genomes that could help companies manufacture novel drugs. Increasing R&D activities for developing new products would also boost segment growth.
In terms of regional analysis. North America next generation sequencing market is projected to witness robust growth over the forecast period. The regional market accounted for over USD 1 billion in 2018.
Moreover, rising research activities and investment is estimated to drive industry size in the coming years. According to a new report, investments in medical health R&D are on a surge, with a 20.6% growth in spending registered between 2013 to 2016. Moreover, around 7 biopharmaceutical developers in the U.S. have contribute over $1 billion each in R&D activities.
Growing investments in the U.S. healthcare sector and emergence of new startups firms may foster NGS market size in the region. In 2019, members from the University of Southern California founded a company called SeqOnce with the goal of revolutionizing genomics research. Moreover, NGS solution provider Fulgent Genetics received approval from the New York State Department of Health to offer next generating sequencing in the state of New York.
Rapid advancements commenced by regional players would complement U.S. industry outlook. In 2019, a prominent NGS firm developed a new next-generation sequencing (NGS) library preparation system designed to easily run complex DNA sequencing assays.
Moreover, investigators from the St. Jude Children's Research Hospital in the U.S. have developed a software to reduce the error rate in NGS data by around 100-fold, which is likely to speed up early detection of relapse and other threats.
Growing penetration across developing nations like India and China is also estimated to offer growth to the NGS industry. According to the Indian Pharmaceutical Alliance (IPA), the country’s pharmaceutical industry is expected to reach USD 120-130 billion by 2030 from the current USD 38 billion. Moreover, rising demand for clinical advanced medications and growing prevalence genetic disorders would foster the regional next generation sequencing market size.
What does this report offer?
The report offers a brief synopsis of next generation sequencing market which is divided into segments like product, application, type, end-user and region outlook. The study offers insights in terms of various parameters like drivers impacting commercialization graph of industry landscape, market segmentation, industry outlook, and trends characterizing global industry. As per the report, the product segment in next generation sequencing market is subdivided into instruments, consumables, services.
Essential factors like market share of each subsegment, forecast over projected period, and development trends pertaining to specific product segment are included in the report. Moreover, an in-depth analysis of types of next generation sequencing technologies are entailed in this study.
The segment is categorized into whole genome sequencing, targeted sequencing and exome sequencing. The whole genome sequencing segment entails a collection of industry trends, driving factors and prioritized market definitions.
Next generation sequencing industry report also emphasis on the market share of subsegments that are involved or are likely to be over the forecast timeframe. Numerous trends characterizing the performance of the whole genome sequencing business landscape have also been elaborated in the report.
In terms of regional analysis, baby food market report is segmented into U.S., Canada, Germany, Japan, UK, France, Italy, China, India, Spain, Indonesia, South Africa, Malaysia, Australia, Brazil, Mexico, Saudi Arabia, UAE. These regions are classified based on market contribution, availability of industry players, consumer base, and other aspects.
The next generation sequencing market report also contains a collection of essential parameters that would help stakeholders implement necessary business decisions. The research report includes necessary information regarding SWOT analysis, market driving factors, and more.
The study also offers an overall market summary, industry trends, ecosystem analysis, an overview of global trends, and the market segmentation. Insights related to competitive market scenario and regulatory spectrum are further summarized in the report along with the business tactics adopted by market players.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.